The freehold of the well-known sports venue has been sold to pub, hotel, live music venue and bar operator BBHL for £4.5m, representing a net initial yield (NIY) of 5.37%.
Leased by Stonegate, the four-storey 522.65 m² Edwardian pub was crowned Best Pub to Watch Sport at the Great British Pub Awards (GBPA) in 2022, adding to its record of wins in 2016, 2017, 2018, and 2021.
A spokesperson for Stonegate told The Morning Advertiser (The MA): “The landlord is selling the freehold, but it doesn’t impact the leasehold we have at the pub or impact trading in anyway.”
Challenging deal
The sale was managed by leisure property specialists Davis Coffer Lyons and leisure property advisory specialists Fleurets.
Fleurets director and head of central London agency Andy Frisby said: “We are very pleased to have facilitated the sale of the Famous Three Kings.
“It is a landmark site and one of the capital’s most recognisable pubs for sport. I look forward to seeing its continued success as part of BBHL growing portfolio.”
Davis Coffer Lyons executive director Paul Tallentyre added the deal had been “challenging” due to the “ever changing” economic climate.
Boasting 36 screens and two projectors, the pub’s circular layout, set on differing levels, offered customers a good view for sporting events and proved popular with fans for a variety of sports.
Sports icon
In addition, the venue could be cut into six separate sound zones, meaning guests were not disturbed by commentary clashes.
The Famous Three Kings also previously hosted sports clubs for overseas visitors and ex-pats, including ice hockey fans from Finland and a Juventus football group, as well as live music events.
Additionally, the drinks offer focused on craft beers from around the world alongside cask and cider with a food menu also available.
The Stonegate-managed site was run by long-standing licensee Paul Eastwood until 2023, when he left to take on a new challenge with the pubco at another sports pub, Clubhouse 5 near London’s Leicester Square, which has since been rebranded as the Three Lanterns.
